*Brazil’s central bank (BCB) has decided to keep the country’s benchmark interest rate (Selic) unchanged, at 13.75%, its highest level in six years. In its previous rate-setting meeting, in September, BCB
also opted not to change the Selic level, interrupting a cycle of 12 consecutive rate hikes. Now all the nine members of the Comitê de Política Monetária (Copom), BCB’s rate-setting committee, voted to keep Brazil’s interest rate at 13.75% citing that, despite the recent deceleration of the country’s inflation, the consumer price index is still above the bank’s target of 3.5% +/- 1.5 percentage points. Brazil’s annual inflation fell from 11.89% in June to 7.17% in September. BCB expects the price index to further decelerate to 5.8% by the end of 2022.
End of preview - This article contains approximately 130 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options